Equities Analysts Set Expectations for VMI FY2024 Earnings

Valmont Industries, Inc. (NYSE:VMI - Free Report) - Investment analysts at DA Davidson increased their FY2024 EPS estimates for shares of Valmont Industries in a report released on Wednesday, October 23rd. DA Davidson analyst B. Thielman now forecasts that the industrial products company will post earnings of $16.99 per share for the year, up from their prior estimate of $16.89. DA Davidson has a "Buy" rating and a $380.00 price objective on the stock. The consensus estimate for Valmont Industries' current full-year earnings is $16.78 per share. DA Davidson also issued estimates for Valmont Industries' Q4 2024 earnings at $3.65 EPS.

Several other equities analysts have also weighed in on VMI. Stifel Nicolaus increased their price target on shares of Valmont Industries from $350.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com upgraded shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $370.00.

Valmont Industries Stock Performance

VMI traded down $4.97 during trading on Thursday, hitting $320.63. 164,109 shares of the company traded hands, compared to its average volume of 157,256. The firm has a market cap of $6.47 billion, a P/E ratio of 21.34 and a beta of 1.02. The stock's fifty day moving average is $286.70 and its 200 day moving average is $268.11. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. Valmont Industries has a one year low of $188.63 and a one year high of $330.97.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The business's revenue was down 2.9% compared to the same quarter last year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, September 27th. Valmont Industries's dividend payout ratio (DPR) is presently 16.30%.

Insider Buying and Selling at Valmont Industries

In other news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now directly owns 9,471 shares of the company's stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now directly owns 9,471 shares of the company's stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Valmont Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. grew its position in Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 103 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Valmont Industries during the third quarter valued at approximately $39,000. Quarry LP grew its position in Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in Valmont Industries during the second quarter valued at approximately $52,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.